Finance
The federally mandated disclosure that shows the estimated loan terms and closing costs is called the:
AHUD-1 Settlement Statement
BLoan Estimate (LE)✓ Correct
CTruth in Lending Disclosure
DClosing Disclosure (CD)
Explanation
The Loan Estimate (LE) replaced the Good Faith Estimate under TRID (TILA-RESPA Integrated Disclosure) rules. It must be provided within 3 business days of a loan application and shows estimated costs and loan terms.
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